Leasing of the Property. If Seller desires to enter into (i) any new leases for the Property (a "New Lease"); or (ii) a renewal, extension or expansion of any existing Leases for the Property (other than renewals, extensions or expansions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective Date, under existing Leases) (a "Renewal") or (iii) any other amendment or modification to a Lease (the "Amendment"), Seller shall give Purchaser prior written notice (the "Lease Activity Notice") of its desire to do so. The Lease Activity Notice shall include a copy of the proposed New Lease, Renewal or Amendment, and shall set out the amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods), the amount of any leasing commission, tenant improvement obligations and any “non-standard” provisions of the proposed New Lease or Renewal or Amendment. Seller shall not enter into any New Lease, Renewal or Amendment without Purchaser’s prior written approval. Purchaser’s approval shall not be unreasonably withheld, delayed or conditioned in connection with a proposed Amendment which is an “Immaterial Amendment,” as defined in the next sentence. For purposes hereof, an “Immaterial Amendment” is an Amendment which will not (i) have any material adverse effect on Purchaser, legal or financial, (ii) increase the financial or legal obligations of the landlord under a Lease; or (iii) modify the term of the Lease or the rent payable thereunder. The Purchaser will be deemed to have granted its consent to any New Lease, Renewal or Amendment in the event that it fails to provide Seller with written objections to the same on or before five (5) Business Days after its receipt of the Lease Activity Notice for the particular New Lease, Renewal or Amendment. As used in this Agreement, the term "Approved Leases" refers collectively to any New Lease, Renewal or Amendment, which is approved by Purchaser pursuant to this Section.
Leasing of the Property. Prior to the execution of any new Leases or Work Agreements for the Property, or the amendment, renewal or extension of any existing Leases for the Property, such Seller shall give notice of its intent to do so to Purchaser (which notice may be given by email to Xxxxxxx Xxxxxx at xxxxxxx@xxxxxxxxxx.xxx and to Xxxxx Xxxxxxxx at xxxxxxxxx@xxxxxxxxxx.xxx). Such notice shall include the name of the proposed Tenant, financial information respecting such Tenant, amount of space involved, the length of the lease term, the proposed financial terms thereof (including any rent abatement periods), the amount of any Leasing Commission, any TI Obligations, a copy of the form of Lease, Lease amendment or other document to be executed and, if the notice relates to a proposed new Work Agreement, a copy of the proposed new Work Agreement. Purchaser shall have five (5) Business Days after receipt of such notice to notify such Seller of its approval or of its objections, if any, to any such proposed Lease or extension or renewal of any existing Lease, or such proposed new Work Agreement, and Purchaser’s failure to approve within such five (5) Business Day period, by e-mail to Xxxx Xxxxxxx at xxxxxxxx@xxxx.xxx, shall be deemed to constitute Purchaser’s disapproval of such proposed Lease or extension or renewal of any existing Lease, or such proposed new Work Agreement. Such Seller shall not enter into any new Lease, amendment, extension or renewal of any existing Lease, or any new Work Agreement, without Purchaser’s prior written consent to the material terms thereof, which consent shall not be unreasonably withheld, conditioned or delayed (and Seller may rely on an email from Xxxxxxx Xxxxxx on behalf of Purchaser as evidence of such consent). Notwithstanding the foregoing (a) Purchaser’s consent shall not be required for new Leases and renewals or extensions of existing Leases evidencing or reflecting the exercise by Tenants of any rights or options, the terms of which are fixed or determinable as of the Effective Date, under existing Leases; and (b) Purchaser acknowledges and agrees that the Leases and the extensions or renewals of Leases (if any) listed on Exhibit E have been approved by Purchaser. Without limiting the express provisions of this Agreement, nothing in this Agreement shall be interpreted to require that any space at the Properties be leased as a condition to Purchaser’s obligation to proceed with Closing. WRIT MOB – Transaction IV
Leasing of the Property. Pursuant to the terms of this Agreement, Agent is authorized to lease the Property, 81 on behalf of Landlord, using the form of residential lease agreement attached hereto, as the same may be modified 82 from time to time (the “Lease Agreement”). The Lease Agreement may be modified from time to time, 83 and Landlord grants to Agent the right to modify the Lease Agreement for the purposes of making any and all 84 necessary changes required by law, making changes needed to correct errors, and making changes which benefit the 85 Landlord. Landlord may request a copy of the then current form of Lease Agreement at any time, and the Agent shall 86 provide a copy upon such request. Agent shall act in accordance with Section 54.1-2133 of the Code in leasing the 87 Property. Additionally, Agent shall make reasonable efforts to screen potential tenants. The parties agree that, unless 88 otherwise agreed to by Landlord in writing, the term of the Lease Agreement shall be for no less than 89 Twelve ( 12 ) months, and on the following 90 terms:
Leasing of the Property. Prior to the Close of Escrow, the ----------------------- Partnership and the Partners shall not terminate, amend or extend existing Leases, except with respect to the pending leases (the "Pending Leases") a schedule of which is attached hereto as Exhibit "Q" or with respect to agreements approved by Buyer, or enter into new leases or lease extensions without the approval of Buyer. License and storage agreements which are terminable by the Landlord do not require prior approval of Buyer. Approval or disapproval shall be given within five (5) business days of Buyer's receipt of a proposal from the Partnership. A failure of Buyer to respond within such five (5) Business Day period shall be deemed approval. To the extent approved by Buyer, the Partners agree to promptly deliver to Buyer true and complete copies of any lease amendments, lease extensions, lease termination agreements and new leases when fully executed. The Partners shall, at the Partners' sole expense, satisfy in full all lease commissions, tenant allowances or monetary concessions and complete all alterations or other work required to be performed by the Partners under the Leases (as shown on the Rent Schedule) or the Pending Leases.
Leasing of the Property. Prior to the Close of Escrow, Seller shall not terminate, amend or extend existing Leases, except with respect to the pending leases (the "Pending Leases") a schedule of which is attached hereto as Exhibit "R" in accordance with terms approved by TEM, or enter into new leases or lease extensions without the approval of TEM. Approval or disapproval shall be given within five (5) business days of TEM's
Leasing of the Property
